Colas RA

simplified consolidated financial statements
10
Simplified consolidated income statement
in millions of euros
2005 2004
Consolidated revenue 9,541 8,024
Profit from operations 422 289
Other costs and expenses (32) 0
Net profit from ordinary activities 390 289
Interest (10) (7)
Other finance income (costs) 4 24
Income tax (121) (95)
Income from associates 49 42
Profit before minority interests 312 253
Minority interests 5 2
Net profit for the period 307 251
Boosted by favorable weather and a high level of investments concerning public and private infrastructure, the Group was able to post a
sharp increase in revenue at 9.5 billion euros with a 22.3% jump in net profit at 307 million euros.
Simplified consolidated cash flow statement
in millions of euros
2005 2004
Cash flows from operating activities 682 683
of which cash generated from operations 783 626
change in tax (111) (105)
change in working capital requirements 10 162
Cash flows from investing activities (526) (322)
of which net investment (495) (396)
Cash flows from financing activities (156) (114)
of which change in equity (6) 7
dividends paid (111) (93)
net variations of borrowings (29) (21)
interest (10) (7)
Other – (2)
Net increase in cash and cash equivalents 0 245
Cash and cash equivalents at beginning of year 561 316
Cash and cash equivalents at end of year 561 561
Despite stable working capital requirements – which had generated cash in 2004 – a significant increase in cash flow from operations (up
25% at 783 million euros) enabled the Group to finance an extensive investment program (526 million euros earmarked for investments compared
to 322 million in 2004), and to continue its high dividend distribution policy (108.5 million euros were paid out in 2005 for fiscal
2004). Cash and cash equivalents minus short-term debt amounted to 561 million euros, which is identical to the figures posted at the end
of December 2004.